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Home>Opinions and Analysis>Yet Another Trump Trade Shuffle (Flip-Flop Arguably a Better Word)

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Yet Another Trump Trade Shuffle (Flip-Flop Arguably a Better Word)

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Mish

Global Economic Analysis

Published : May 23rd, 2018

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	Under pressure from Congress, Trump reversed on China ZTE sanctions. Trump's trade policy is like a page from French president Emmanuel Macron. It's neither here nor there, nor anywhere. Yesterday, both China and the US touted a trade deal with China. This followed a bizarre Tweet from Trump that showed Trump's concern for loss of jobs, not in the US, but China. In response, China lifted tariffs and so did the US. I commented on the "progress" in ZTE Back From the Dead After Trump Reverses Sanctions. Also Note These "About Face" Articles Whoa! Stop the Presses! Today we see Trump Denies Reaching Deal With China on ZTE. What happened? Congressional Opposition The Wall Street Journal reports Congressional Opposition Mounts Over White House Approach to Chinese Tech Deals. The Hill reports Senate panel overwhelmingly approves amendment blocking Trump on ZTE. Who Cares What Anyone Thinks? The man who did not give a rat's ass about what anyone in either party thought now suddenly cares. It's been a pathetic scene to watch. I commented on that aspect yesterday in Trump Shuffle: China Runs Rings Around Trump's Trade Policy by Standing in Place. At the time it looked like this. Reflections on Trust Today we see that widely proclaimed "success" has been canceled thanks to political opposition. Any foreign government that believes they can trust Trump is as foolish as any government that believes they can trust China.

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Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. He writes a global economics blog which has commentary 5-7 times a week. He also writes for the Daily Reckoning, Whiskey & Gunpowder, and has over 80 magazine and book cover credits. Visit http://www.sitkapacific.com

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